Trying to find like minded or seasoned veterans in the Pittsburgh area to get my foot in the door for investing. I'm trying not to get caught up in the "analysis paralysis" stage but, am sure I need to know more information before diving in.
I’m a newbie investor in Pittsburgh as well! Happy to connect.
Hi @Dustin Phillips , welcome to the site, and good luck getting started. Continue to self educate through BP. Feel free to reach out if you've got any questions.
@Jelani Williams Thanks for the response. How and what types of investing do you do?
Hey Dustin congrats on deciding real estate is the way to go for you. My business partner and I started a few years back and its incredibly rewarding. Send me a pm and lets connect
@Jelani Williams what kinds of investing do you do?
Hi @Dustin Phillips , welcome to BP!
Great job on deciding that, it's not easy but fun (sometimes haha) and rewarding.
Can you tell us what you've already decided to do (what method did you choose) or if you need any help with resources.
Feel free to DM me with any question that you have, we have all been newbies once:)
@Louisa Davis feel free to DM me too if you need any help:)
@Dustin Phillips I buy and hold small multi units / house hack
@Shai Flax I want to get into buy and hold. I need to start off by learning how to determine deals.
@Dustin Phillips study up as much as you can at the beginning. Once you consume enough books/videos/podcasts you'll get to the point where you feel comfortable enough with the concepts to dive into it. You are never going to learn everything but the main thing is just feeling confident enough to be able to make an educated investment decision.
Then the next step will be analyzing the market to get more familiar with the local neighborhoods/price points and rent amounts, etc. That will give you even more fire power to make an educated decision.
Potentially the biggest hurdle for newbies is actually pulling the trigger. A lot of people no matter how much they educate themselves can never pull the trigger on deal number 1. The first deal is the hardest but it becomes easier and easier from that point on. You will also learn a ton from the first few properties that you will never be able to read in a book or listen to on a podcast.
It also helps to focus at the beginning on a specific niche and become very well tuned on that rather than chasing the shiny object. You'll find that thru enough education you naturally gravitate towards a certain type of investing/property type.
There's a few local meetups in Pittsburgh as well that I would recommend attending. Feel free to reach out if you are interested I can get you the info on those. Always helps to talk shop with peers and people that are actually doing it in your local market.